Vancouver Secrets

Barney Frank Gets His _ _ _ Handed To Him

Finally, someone accurately accuses and challenges a member of Congress over his involvement in this current financial crisis.

Barney Frank, the failed Chairman of the House Services Committee for his role in the Fannie Mae-Freddie Mac, gets taken to task, finally.

One other point that isn’t made very often:

When the Democrats took over the House of Representatives and the Senate in January of 2007, the Dow Jones was at an all-time high of 12,400 and gas prices around $2.15 per gallon. The Republican-led Congress of the previous 4-years had left a strong-economy in the hands of Democrats.
In two years two years, under Democrat-controlled Congress the Dow Jones hit a 5-year low of 10,485 and gas prices loomed near $4 dollars a gallon.

This Congress is the worst in history and not enough attention has been paid to this fact.

Love him or hate him, O’Reilly serves a purpose.

Will Gas Prices Rise 12.9 Cents A Litre This Friday?

photo credit: bitzcelt

Liberal MP Dan McTeague says drivers in Toronto and Western Canada will face the largest one-day price increase ever seen this Friday, when pump prices could jump as much as 12.9 cents per litre.

If true, this means Toronto will go to the highest price ever - $1.37 a litre…

In Vancouver we haven’t dropped below $1.40 since oil hit $140/barrel. This is an indication of how a carbon tax will relate to a huge ripoff. BC now enjoys gas prices of at least 10-15 cents more than the rest of the country - thanks to our 2.4 cent carbon tax. Funny how that works.

The most incredible thing is how a  hurricane some 2,500+ miles from Canada can cause our gas to go up instantly - and although oil has dropped 30-50% since the peak, prices are still at a level of $130+/barrel.

Each time gas goes up it sets a new benchmark for pain. The oil companies then drop it a few cents when oil goes down, and then jack it again beyond this threshold on an uptick.

I can’t believe that this continues to go on - time to get serious about the collusion going on.

The Oil Companies Profit From Gustav

photo credit: TopTechWriter.US

Not to miss an opportunity to take advantage of Vancouver drivers, the oil companies have jacked our gas prices again - and will continue to do so throughout the week- in anticipation of Gustav’s arrival into the Gulf of Mexico.

New Orleans is the likely target, and it almost looks like a repeat of Katrina.

Vancouver wins the prize for most expensive Canadian gas, despite oil prices being lower by almost $20/barrel since the peak.

As I wrote last week, they forgot to lower the price when oil dropped to $115/barrel from $145 - but were quick off the line to raise them when it went up to $120. In fact, they raised prices before trading was over yesterday.

We now face prices above 1.44/litre - when they should be around $1.25-1.30/litre.

How high can they go?

Only greed will dictate.

In hurricane prone areas they have laws against this - it’s called price gouging. Raising prices to take profit from disasters is frowned upon.

Here in Vancouver it’s a fact of life - no matter how distant the disaster is.